Alcoholic beverage manufacturing: Cupid Breweries to buy United Spirits Odisha unit

Cupid Breweries and Distilleries said it planned to buy an operating alcoholic drinks unit in Odisha. The asset belongs to Diageo-controlled United Spirits Ltd, also called USL. The deal value is Rs 22.5 crore, as the company set out expansion plans. The purchase includes the unit located at Gopalpur, Odisha.

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In a regulatory filing, Cupid Breweries and Distilleries said it signed a formal pact with USL. The document was dated June 05, 2026. "We wish to inform you that the Company has entered into an Agreement for Sale and Transfer dated June 05, 2026, with United Spirits Limited, a Diageo Group company,\" the company said. Cupid was earlier known as Cupid Trades and Finance Ltd.

Cupid Breweries and Distilleries acquisition from United Spirits Ltd in Odisha

The company said the agreement covered multiple assets tied to the Gopalpur site. \"The agreement has been executed for the proposed purchase of land, building, plant & machinery along with premium excise licenses pertaining to the production unit situated at Gopalpur, Odisha, for a total consideration of Rs. 22.50 crore,\" it said. The filing described it as an operational alco-beverage manufacturing unit.

Cupid said the purchase aligned with its growth plans and scale-up efforts. \"The proposed transaction represents a significant step in the Companys growth and expansion strategy and envisages the acquisition of a large alco-beverage production unit having an installed production capacity of approximately 2,50,000 cases per month,\" it said. The unit was described as having existing production capability.

Diageo India divesting non-core assets tied to United Spirits Ltd strategy

The transaction comes as Diageo India continued to exit assets it did not treat as central. The strategy aimed to simplify operations and keep attention on core brands. It also focused on key manufacturing locations. The Gopalpur unit sale fits that wider approach, based on earlier steps by the company.

In 2025, Diageo India sold a residential property at Malabar Hill in Mumbai. The sale value was Rs 172 crore. Earlier in 2026, it sold its entire stake in Royal Challengers Sports Pvt Ltd. That company owns the Royal Challengers Bengaluru RCB IPL and WPL franchises, for Rs 16,660 crore.

Cupid Breweries and Distilleries said the Odisha purchase involved both physical assets and licences. The deal was valued at Rs 22.5 crore and was recorded in a regulatory filing. The unit is located at Gopalpur, Odisha, and the capacity was stated as about 2,50,000 cases per month. Diageo India has also sold other non-core assets in 2025 and 2026.

With inputs from PTI